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Print - 2014-07-15
BES shares tumble after management change

BES shares tumble after management change

Shares in Portugal's largest listed bank, Banco Espirito Santo (BES), plunged further Monday as the arrival of new directors failed to shake off worries about the founding family's empire. After posting an early gain of almost 6.0 percent on news that new
Published 15 Jul, 2014 12:00am
Airbus 'neo' plane launch kicks off Farnborough show

Airbus 'neo' plane launch kicks off Farnborough show

European planemaker Airbus on Monday launched the eagerly-awaited upgrade of its long-haul A330 passenger jet - the A330neo - to meet rising demand for cheaper, more fuel-efficient travel. The decision to upgrade the A330 with new Rolls-Royce engines was
Published 15 Jul, 2014 12:00am
German economy's might absorbs World Cup effect

German economy's might absorbs World Cup effect

Germany's romp to World Cup victory captivated the nation and fuelled sales of football merchandise, beer and sausages, but it had little impact on financial markets Monday. With Europe's biggest economy already in good shape owing to buoyant domestic dem
Published 15 Jul, 2014 12:00am
Samsung finds 'evidence' of child labour at China plant

Samsung finds 'evidence' of child labour at China plant

Samsung said Monday it temporarily suspended business with one of its suppliers in China over the suspected use of child workers, following criticism that its monitoring of illegal labour practices was ineffective. The South Korean electronics giant launc
Published 15 Jul, 2014 12:00am
IMF cuts eurozone 2014 growth forecast

IMF cuts eurozone 2014 growth forecast

The IMF cut its 2014 growth forecast for the eurozone on Monday, warning that the recovery in the single currency bloc was "neither robust nor sufficiently strong." In an annual report on the eurozone, the International Monetary Fund said growth this year
Published 15 Jul, 2014 12:00am
IMF cuts eurozone 2014 growth forecast

IMF cuts eurozone 2014 growth forecast

The IMF cut its 2014 growth forecast for the eurozone on Monday, warning that the recovery in the single currency bloc was "neither robust nor sufficiently strong." In an annual report on the eurozone, the International Monetary Fund said growth this year
Published 15 Jul, 2014 12:00am
Qatar, Egypt, UAE bourses edge up but SABIC drags down Saudi index

Qatar, Egypt, UAE bourses edge up but SABIC drags down Saudi index

Bourses in Qatar, Egypt and the United Arab Emirates edged up on Monday while Saudi Arabia's largest listed company, Saudi Basic Industries, dragged down that market after two of its subsidiaries posted disappointing quarterly earnings. The Doha benchmark
Published 15 Jul, 2014 12:00am
Sri Lankan index surges

Sri Lankan index surges

Sri Lankan stocks hit a 33-month high on Monday as investors bought beverage and banking sector shares, while lower interest rates and continued foreign buying after the central bank left policy rates steady also helped. The central bank kept policy rates
Published 15 Jul, 2014 12:00am
Hong Kong, China shares higher

Hong Kong, China shares higher

Hong Kong shares ended 0.49 percent higher Monday as traders awaited the release of Chinese second-quarter growth data later in the week. The benchmark Hang Seng Index added 113.22 points to 23,346.67 on turnover of HK$47.73 billion (US $6.16 billion). In
Published 15 Jul, 2014 12:00am
Monday's midday trade: Wall Street climbs on Citi earnings, M&A boost

Monday's midday trade: Wall Street climbs on Citi earnings, M&A boost

US stocks rose on Monday, sparked by the latest flurry of merger activity and earnings from Citigroup, putting the S&P 500 on pace to climb for a second straight session. London-listed drugmaker Shire Plc said it was ready to recommend to agree to an incr
Published 15 Jul, 2014 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 0.25 percent on Monday morning, largely in line with other regional and global markets as investors await a raft of corporate earnings data this week. As of 0200 GMT, the main TAIEX index was up 23.49 points at 9,519.58, after falling 0
Published 15 Jul, 2014 12:00am
Southeast Asian markets: Thai index rises

Southeast Asian markets: Thai index rises

Thai key index scaled an over 13-month high on Monday as a planned infrastructure development lifted bank and construction related stocks, while Indonesia fell for the second straight session amid uncertainty over election results. Thailand's public debt
Published 15 Jul, 2014 12:00am
Tokyo stocks up

Tokyo stocks up

Tokyo stocks closed 0.88 percent higher on Monday, snapping a five-day losing streak, as the weaker yen helped lift the market following modest gains on Wall Street. The benchmark Nikkei 225 index climbed 132.78 points to finish at 15,296.82 while the Top
Published 15 Jul, 2014 12:00am
Indian shares flat on foreign selling pressure

Indian shares flat on foreign selling pressure

Indian shares remained under pressure on Monday, falling for a fifth consecutive session as foreign investors turned sellers, hitting bluechips such as ICICI Bank and Hindustan Unilever. Overseas investors sold shares worth 7.23 billion rupees ($120.6 mil
Published 15 Jul, 2014 12:00am
Banks lead European shares higher after Citigroup earnings

Banks lead European shares higher after Citigroup earnings

European equities rose on Monday, rebounding from near two-month lows after their biggest weekly loss in four months, with banks leading the rally following strong earnings from Citigroup. The FTSEurofirst 300 index of top European shares ended 0.8 percen
Published 15 Jul, 2014 12:00am
South African shares rise

South African shares rise

South African shares gained for a second straight session in line with global markets on Monday and eyes will be turning this week to the domestic central bank, which will make an interest rate decision later this week. Shoprite gained the most amongst bl
Published 15 Jul, 2014 12:00am
Australian shares up

Australian shares up

Australian shares extended gains to end 0.5 percent higher on Monday led by financial and resources stocks. The S&P/ASX 200 index rose 25.51 points to close at 5512.30. The bechmark closed 0.4 percent high on Friday. New Zealand's benchmark NZX 50 index u
Published 15 Jul, 2014 12:00am
Shire, Sports Direct push FTSE up in thin trade

Shire, Sports Direct push FTSE up in thin trade

Britain's top equity index rose for a second straight day in thin trade on Monday, helped by rises in bid-target drugs firm Shire and retailer Sports Direct. Shares in Shire hit a record high of 5,045 pence - before paring back gains into the close - afte
Published 15 Jul, 2014 12:00am
Dollar rises in Asia

Dollar rises in Asia

The dollar edged up slightly against its Japanese counterpart on Monday though major currency pairs largely stuck close to recent ranges, as investors awaited events this week including Federal Reserve Chair Janet Yellen's congressional testimony for cues
Published 15 Jul, 2014 12:00am
Early trade in New York: dollar steady against most currencies

Early trade in New York: dollar steady against most currencies

The dollar drifted around the unchanged mark against most major currencies on Monday but edged higher against the Japanese yen as investors awaited congressional testimony by Federal Reserve Chair Janet Yellen on US monetary policy. The dollar was up 0.2
Published 15 Jul, 2014 12:00am
Dollar rises against yen in London

Dollar rises against yen in London

The dollar edged up against the yen on Monday as investors awaited Federal Reserve Chair Janet Yellen's congressional testimony later in the week for clues on the outlook for US monetary policy. US Treasury yields have fallen and Fed Funds futures show in
Published 15 Jul, 2014 12:00am
Bangladesh's interbank forex and interest rates

Bangladesh's interbank forex and interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 77.60-77.60 (previous 77.60-77.61). Call Money Rates: 05.50-07.00 percent (* previous 05.50-07.00 percent). (* revised).
Published 15 Jul, 2014 12:00am
Asian currencies mostly up

Asian currencies mostly up

Emerging Asian currencies mostly inched higher on Monday, stabilising after taking a fall late last week, as investor jitters over problems at a Portuguese bank eased. Many Asian currencies had declined late last week as investors booked profits due to fe
Published 15 Jul, 2014 12:00am
Yuan falls

Yuan falls

China's yuan fell against the dollar on Monday as companies tended to buy dollars in anticipation that the Chinese currency would remain relatively weak in the near term, traders said. Spot yuan stood at 6.2072 per dollar by midday, 0.06 percent weaker th
Published 15 Jul, 2014 12:00am
Indian rupee dips

Indian rupee dips

The Indian rupee lost ground on Monday against the dollar, bucking the trend among Asian peers, as local shares continued to reel with foreign investors turning sellers amid disappointment over the lack of specifics in the federal budget. Caution also pre
Published 15 Jul, 2014 12:00am
Sterling down

Sterling down

Sterling and British government bond prices edged lower on Monday, before two days of economic data that should provide more clarity on whether Britain's recovery is on track and liable to provoke a rise in interest rates soon. The pound suffered its firs
Published 15 Jul, 2014 12:00am
Aussie and New Zealand dollar seek fresh cues

Aussie and New Zealand dollar seek fresh cues

The Australian and New Zealand dollars marked time on Monday, mirroring a generally aimless currency market that appeared to be waiting for fresh cues this week from China data and Federal Reserve Chair Janet Yellen's congressional testimony. The Aussie t
Published 15 Jul, 2014 12:00am
Scolari fired as Brazil manager

Scolari fired as Brazil manager

Brazil have sacked manager Luiz Felipe Scolari just hours after the end of a home World Cup in which they suffered two of their worst defeats in the tournament's history, one of Brazil's leading newspapers reported on Monday. Scolari's Brazil were favouri
Published 15 Jul, 2014 12:00am
Messi wins 'sad prize' as World Cup dream remains elusive

Messi wins 'sad prize' as World Cup dream remains elusive

Lionel Messi must now set his sights on Russia in 2018 as he seeks to cap an already stellar career by leading Argentina to World Cup glory. FIFA awarded 27-year-old Messi the 'Golden Ball' as the top player of the World Cup on Sunday, but Barcelona forwa
Published 15 Jul, 2014 12:00am
Blatter gives World Cup 9.25 marks out of 10

Blatter gives World Cup 9.25 marks out of 10

FIFA president Sepp Blatter gave the World Cup in Brazil 9.25 marks out of 10 on Monday, the day after the tournament ended with Germany beating Argentina 1-0 after extra time in the final. "We have improved on four years ago in South Africa," said Blatte
Published 15 Jul, 2014 12:00am
Past World Cup winners

Past World Cup winners

The 20 World Cup winners after Germany beat Argentina 1-0 in Sunday's final:
Published 15 Jul, 2014 12:00am
Militants press Iraq assault as political deadlock set to drag on

Militants press Iraq assault as political deadlock set to drag on

Police and tribesmen battled an assault on Monday that could bring militants a step closer to Baghdad, as Iraq's flagging government formation process seemed set to drag on. World powers and Iraq's top Shia cleric, Grand Ayatollah Ali al-Sistani, have pil
Published 15 Jul, 2014 12:00am
British sex abuse probe chief quits amid bias fears

British sex abuse probe chief quits amid bias fears

The woman heading Britain's inquiry into historic claims of child sex abuse by politicians and public figures resigned Monday less than a week after her appointment, following criticism over her links to the establishment. Retired British judge Elizabeth
Published 15 Jul, 2014 12:00am
India court suspends death sentences for Delhi gang-rape

India court suspends death sentences for Delhi gang-rape

India's top court Monday suspended the death sentences of two of the four men convicted of the deadly gang-rape of a student in New Delhi, an attack that triggered international outrage. The Supreme Court temporarily stayed the sentences passed on gym ins
Published 15 Jul, 2014 12:00am
China charges GSK-linked investigators

China charges GSK-linked investigators

Prosecutors in China have filed charges against British investigator Peter Humphrey and his American wife, the official Xinhua news agency said on Monday, after the couple were detained last year following work they did for British drugmaker GlaxoSmithKli
Published 15 Jul, 2014 12:00am
UNSC authorises Syria aid convoys

UNSC authorises Syria aid convoys

The UN Security Council adopted a resolution Monday authorizing humanitarian convoys to Syria without the consent of the Damascus regime, to help more than one million civilians in rebel-held areas. The council - including Russia and China, who have vetoe
Published 15 Jul, 2014 12:00am
Qatar to buy Patriot missiles in $11 billion deal: US officials

Qatar to buy Patriot missiles in $11 billion deal: US officials

Qatar plans to buy US Patriot missile batteries and Apache attack helicopters in a major arms deal worth about $11 billion, senior Pentagon officials said Monday. The sale would provide Qatar with roughly ten batteries for Patriot systems designed to knoc
Published 15 Jul, 2014 12:00am
EU resumes cooperation with Guinea-Bissau

EU resumes cooperation with Guinea-Bissau

The European Union said Monday that it was resuming cooperation with Guinea-Bissau after a three-year break following "free and credible" elections held in the tiny west African nation in May. The EU "today suspended the measures limiting EU cooperation"
Published 15 Jul, 2014 12:00am
Ukraine says military plane 'likely' shot down from Russia

Ukraine says military plane 'likely' shot down from Russia

Ukrainian forces hunted for the crew of a downed military plane Monday after Kiev said the aircraft was "likely" shot down from Russia, ratcheting up tensions along their volatile border. "Crew members from an AN-26 plane... that was shot down have establ
Published 15 Jul, 2014 12:00am
'Be proud', Hollande tells French amid economic gloom

'Be proud', Hollande tells French amid economic gloom

President Francois Hollande on Monday pleaded with the French to be proud of their country in an attempt to boost confidence at a time of enduring gloom over record unemployment and faltering growth. Speaking in a televised interview on France's national
Published 15 Jul, 2014 12:00am
Romanians must pay 18 million euros over Dutch art heist

Romanians must pay 18 million euros over Dutch art heist

Four Romanians behind a spectacular art heist in the Netherlands were ordered Monday to pay 18 million euros, with the fate of the stolen masterpieces by Picasso, Monet, Gauguin and Lucien Freud still a mystery. Seven paintings that were temporarily on di
Published 15 Jul, 2014 12:00am
UN evacuates as deadly clashes sever Libya air links

UN evacuates as deadly clashes sever Libya air links

The United Nations announced Monday that it was evacuating its remaining staff from Libya, after deadly clashes closed Tripoli airport and severed air links with the outside world. The fighting between liberal and Islamist militias came after a June gener
Published 15 Jul, 2014 12:00am
Church of England approves women bishops in historic vote

Church of England approves women bishops in historic vote

The Church of England overcame bitter divisions Monday to vote in favour of allowing female bishops for the first time in its nearly 500-year history. The decision reverses a previous shock rejection in 2012 and comes after intensive diplomacy by Archbish
Published 15 Jul, 2014 12:00am
China gives regulatory approval for iron ore, thermal coal swaps

China gives regulatory approval for iron ore, thermal coal swaps

China's central bank has approved the launch of the country's first iron ore and thermal coal swap contracts, two industry sources said on Monday, giving industry participants new financial tools to hedge the risk of volatile prices. China is the world's
Published 15 Jul, 2014 12:00am
Shanghai copper climbs

Shanghai copper climbs

The most-traded September copper contract on the Shanghai Futures Exchange climbed 0.3 percent to 50,940 yuan a tonne on Monday. Shanghai zinc was up by 1.5 percent at 16,505 yuan ($2,700) a tonne, having earlier reached 16,550 yuan a tonne - the highest
Published 15 Jul, 2014 12:00am
Copper prices dip, zinc retreats

Copper prices dip, zinc retreats

Copper dipped and zinc retreated from its highest levels in almost three years on Monday as investors worried that prices may have overshot after recent gains. Copper had gained 9 percent from mid-June to July 8, when it touched a 4-1/2 month high. But it
Published 15 Jul, 2014 12:00am
World oil prices little changed

World oil prices little changed

Oil prices were little changed on Monday as traders weighed renewed violence in Libya and uncertainty over nuclear talks with Iran against broader signs of a global market well-supplied with crude. North Sea benchmark Brent closed at its lowest in three m
Published 15 Jul, 2014 12:00am
Ukrainian maize imports approval

Ukrainian maize imports approval

The European Union last week awarded licences to import 31,500 tonnes of Ukrainian maize under a duty-free quota created this year as part of a trade deal between the EU and Kiev, official data showed on Thursday. This was the first award so far under the
Published 15 Jul, 2014 12:00am
Tokyo rubber futures slip

Tokyo rubber futures slip

Tokyo rubber futures slipped on Monday as concerns over rising rubber inventories spurred stop-loss selling, but firmness in oil prices still lent support, dealers said. The Tokyo Commodity Exchange rubber contract for December delivery slipped 0.8 yen to
Published 15 Jul, 2014 12:00am
Palm oil drops to over nine-month low

Palm oil drops to over nine-month low

Malaysian palm oil futures slipped to a more than nine-month low on Monday, tracking heavy losses in overseas soy and crude oil markets, while a firmer ringgit further dampened buying interest in the tropical oil. Palm, which typically tracks soyoil, was
Published 15 Jul, 2014 12:00am
ICE coffee consolidates, sugar mixed

ICE coffee consolidates, sugar mixed

ICE arabica coffee futures rose on Monday, quietly consolidating after falling to the lowest level in nearly five months last week, while raw sugar was mixed, with the benchmark contract also rising above a multi-month low. Cocoa futures crept lower follo
Published 15 Jul, 2014 12:00am
Gold falls in Asia

Gold falls in Asia

Gold slid 1.5 percent on Monday in its biggest one-day drop in nearly seven weeks on selling from stop-loss orders and as Asian share markets gained strength. Spot gold fell as much as 1.6 percent to $1,317.00 an ounce, and was at $1,318.11 by 0705 GMT. U
Published 15 Jul, 2014 12:00am
Gold tumbles in Europe

Gold tumbles in Europe

Gold prices slid more than 2 percent on Monday as concerns over the euro zone periphery faded, triggering a rebound in stock markets and prompting bullion investors to cash in gains after last week's rise to 3-1/2 month highs. Equity markets in Europe ros
Published 15 Jul, 2014 12:00am
US MIDDAY: soya and wheat up

US MIDDAY: soya and wheat up

US soyabeans and wheat futures firmed on Monday, bouncing off of multiyear lows due to a mild round of bargain buying and short-covering, traders said. But forecasts for excellent growing weather across broad stretches of the Midwest during the next two w
Published 15 Jul, 2014 12:00am
US MIDDAY: gold slides

US MIDDAY: gold slides

Gold slid 2.4 percent on Monday, its biggest one-day drop since early December, as fading fears over Portugal's banking sector and a gain in US equities prompted investors to take profits after bullion's rally to 3-1/2 month highs last week. Bullion price
Published 15 Jul, 2014 12:00am
Pesco's power shutdown notice

Pesco's power shutdown notice

Peshawar Electricity Supply Company (Pesco) on Monday announced power outage schedule from Daud Khel Grid Station. According to the schedule, due to necessary maintenance work, electricity supply will remain suspended from 132 KV Daud Khel Grid Station on
Published 15 Jul, 2014 12:00am
RCCI urged to play active role in IDPs' help

RCCI urged to play active role in IDPs' help

The Rawalpindi Chamber of Commerce and Industry (RCCI) on Monday urged to play its active role to help mitigate sufferings of the Internally Displaced People (IDPs) of North Waziristan and adjoining areas. At meeting with the RCCI elected representation,
Published 15 Jul, 2014 12:00am
Scattered monsoon rains forecast across country

Scattered monsoon rains forecast across country

Pakistan Meteorological Department (PMD) predicted scattered monsoon rains in the country during the current week. Spokesman for PMD said on Monday that week monsoon currents are penetrating in upper parts of the country which are likely to intensify duri
Published 15 Jul, 2014 12:00am
SZABMU, PIMS take over district Bannu hospital

SZABMU, PIMS take over district Bannu hospital

On the directions of Prime Minister, Shaheed Zulfiqar Ali Bhutto Medical University (SZABMU) and Pakistan Institute of Medical Sciences (PIMS) have taken over district hospital Bannu. PIMS team has made the hospital fully operational and have based 65 sta
Published 15 Jul, 2014 12:00am
Model Town incident: ATC remands five cops in police custody

Model Town incident: ATC remands five cops in police custody

An anti terrorism court here on Monday remanded five cops in police custody for their alleged involvement in killing of Pakistan Awami Tehreek's workers outside the residence of Dr Tahirul Qadri in Model Town. Faisal Town police produced Sabzazaar SHO She
Published 15 Jul, 2014 12:00am
Attock Refinery Limited

Attock Refinery Limited

Attock Refinery Limited is a subsidiary of Attock Group. It was incorporated as a private limited company in 1978. Later in 1979, it was converted into a public limited company and listed on all the three stock exchanges of the country. Attock Group is a
Published 15 Jul, 2014 12:00am
Attock Refinery Limited

Attock Refinery Limited

Attock Refinery Limited is a subsidiary of Attock Group. It was incorporated as a private limited company in 1978. Later in 1979, it was converted into a public limited company and listed on all the three stock exchanges of the country. Attock Group is a
Published 15 Jul, 2014 12:00am
Opening ceremony of girls school building held

Opening ceremony of girls school building held

A humanitarian organisation, Abaseen Foundation organised opening ceremony of a new building of Mian Gul Model School for girls at Shamshatu FR, Peshawar on Monday. The building consists of 16 classrooms and a hall which can easily accommodate students up
Published 15 Jul, 2014 12:00am
Next ISI chief: Prime Minister likely to finalise name by next month

Next ISI chief: Prime Minister likely to finalise name by next month

The Prime Minister is expected to finalise the name of the next Director General Inter-Services Intelligence (ISI) in August, well before the retirement of incumbent DG ISI Lieutenant General Zaheerul Islam who will reach the age of superannuation on Octo
Published 15 Jul, 2014 12:00am
SBP reminds public to exchange decimal coins

SBP reminds public to exchange decimal coins

State Bank of Pakistan (SBP) has reminded the general public to exchange the decimal coins of Paisa 1,2,5,10,25 & 50 from the field offices of SBP BSC and commercial/microfinance banks branches by last working day of September 30, 2014. For awareness of g
Published 15 Jul, 2014 12:00am
'Islamic banking needs to expand services across country'

'Islamic banking needs to expand services across country'

The Deputy Governor of State Bank of Pakistan (SBP), Saeed Ahmad, said on Monday that the "Islamic banking" was an emerging banking sector which needs to expand its services across Pakistan with specialised products in all major economic sectors such as a
Published 15 Jul, 2014 12:00am
LHC reinstates Lesco director operations

LHC reinstates Lesco director operations

The Lahore High Court here on Monday suspended the suspension order of sacked Director Operations of Lesco, Mehboob Ali and reinstated him to the post. The court passed this interim order and sought reply from Ministry of Water and Power, Pepco and other
Published 15 Jul, 2014 12:00am
Death of 18 labourers: CJ takes suo motu notice

Death of 18 labourers: CJ takes suo motu notice

Chief Justice Nasirul Mulk on Monday took suo motu notice over death of 18 stone-crushers' (labourers) in Gujranwala due to environment hazard. Two human rights activists Usama Khawar and Yayha Farid Khawaja have filed an application and urged the Chief J
Published 15 Jul, 2014 12:00am
Sehri, Iftar, Taraveeh: no respite from loadshedding

Sehri, Iftar, Taraveeh: no respite from loadshedding

The unabated power outages in many parts of the city have perturbed consumers, particularly during Sehri, Iftar and Taraveeh timings, as Peshawar Electric Supply Company continuously carrying out excessive load shedding, failure to comply with the order o
Published 15 Jul, 2014 12:00am
Textile minister to raise power supply issue with Nawaz

Textile minister to raise power supply issue with Nawaz

In a bid to save the industry from total collapse and ensure adequate power supply to keep its wheel moving, the ministry of textile industry has decided to raise the issue of regular electricity supply with Prime Minister Nawaz Sharif, it is learnt.
Published 15 Jul, 2014 12:00am
Chinese team calls on PU vice chancellor

Chinese team calls on PU vice chancellor

A Chinese delegation headed by Manager China National Petrol Co-operation Pakistan Branch, Wu Jinsong called on Punjab University's Vice Chancellor, Professor Dr Mujahid Kamran at his office here on Monday. PU Registrar, Professor Dr Muhammad Amin Ather,
Published 15 Jul, 2014 12:00am
'Pursuing self-serving disputes with vigour': SECP response

'Pursuing self-serving disputes with vigour': SECP response

The Securities and Exchange Commission of Pakistan (SECP) strongly refutes the accusations made in an article "Pursuing self-serving disputes with vigour" published in Business Recorder on July 13, 2014. It appears to be an open attempt to malign P
Published 15 Jul, 2014 12:00am
Exuberant markets and fragile economies pose policy puzzle

Exuberant markets and fragile economies pose policy puzzle

A ripple of financial contagion from a troubled Portuguese bank and a warning that markets have got way ahead of the sluggish economies that underpin them have fired up new debate about an appropriate policy response. The Bank for International Settlement
Published 15 Jul, 2014 12:00am
Greening and electrifying the transport - I?

Greening and electrifying the transport - I?

World Bank's recent report, "cleaning Pakistan's Air" has drawn our attention to the deteriorating environmental conditions in Pakistan and especially about air pollution. More than 20,000 deaths are reportedly caused every year by environmental reasons.
Published 15 Jul, 2014 12:00am
Do perceptions matter?

Do perceptions matter?

Exercise of unquestioned power by the parliament is a philosophy propagated by self-serving democrats - the lot that rules Pakistan. And there is a reason there for; given immunity, democrats can use state authority as the cover for their mismanagement an
Published 15 Jul, 2014 12:00am
The uproar over Musharraf exit 'deal'

The uproar over Musharraf exit 'deal'

The controversy generated by ex-prime minister Yousuf Raza Gilani's statement about former military ruler General Pervez Musharraf's stepping down from power refuses to die down. Talking to journalists the other day, he revealed that Musharraf was given a
Published 15 Jul, 2014 12:00am
Estimates are projections not cast in stone

Estimates are projections not cast in stone

A press release from Ministry of Finance on the discrepancy in growth figures in the Memorandum of Economic and Financial Policies (MEFP), attached to the Letter of Intent (LoI), signed by Minister of Finance Ishaq Dar and Governor State Bank of Pakistan
Published 15 Jul, 2014 12:00am
Azadi Interchange-Another Milestone Towards Progress

Azadi Interchange-Another Milestone Towards Progress

In his efforts for transforming Lahore into a modern Mega-polis through construction of Pakistan's first ever Lahore Metro Bus Project as well as a number of underpasses and Flyovers in the city, Punjab Chief Minister Muhammad Shahbaz Sharif has led the p
Published 15 Jul, 2014 12:00am
KP IGP presents awards to Peshawar, Shinkiari police Jawans

KP IGP presents awards to Peshawar, Shinkiari police Jawans

The KP Inspector General of Police (IGP) Nasir Khan Durrani has awarded Peshawar and Shinkiari police jawans for arresting dacoits and extortionist in a ceremony held at CPO Peshawar on Monday. According to details Faqirabad police had arrested three accu
Published 15 Jul, 2014 12:00am
Cop among five killed in incidents of violence

Cop among five killed in incidents of violence

At least five people including a cop were killed, while six others injured in separate incidents of violence, here on Monday. According to police and rescue sources, Assistant Sub-Inspector (ASI) Police Yousuf, 45, son of Naseem was gunned down by unknown
Published 15 Jul, 2014 12:00am
New pay scales for PRAL employees approved

New pay scales for PRAL employees approved

The Board of Directors of the Pakistan Revenue Automation Limited (PRAL) approved the new pay scales of the PRAL employees, discontinued gratuity from July 1, 2014, and reduced sanctioned strength from 1,481 to 1,200 employees by abolishing 281 posts. Sou
Published 15 Jul, 2014 12:00am
15 members of KCCI's MC to retire on September 30

15 members of KCCI's MC to retire on September 30

Fifteen members of Managing Committee (MC) of Karachi Chamber of Commerce and Industry (KCCI) will complete their tenure and retire on September 30, 2014 while election to fill these vacant seats will be held on September 20, 2014. Those who will complete
Published 15 Jul, 2014 12:00am
Sharjeel seeks report about bursting of main water pipeline

Sharjeel seeks report about bursting of main water pipeline

Sindh Minister for Information and Local Government Sharjeel Inam Memon directed the Managing Director, Karachi Water and Sewerage Board (KWSB) to arrange immediate repair of broken 72-inch main pipeline, which caused acute shortage of water to the metrop
Published 15 Jul, 2014 12:00am
2404 people killed after launch of Karachi operation

2404 people killed after launch of Karachi operation

Peace is still a distant dream for Karachiities despite the ongoing targeted operation launched in September last year against the criminals, gangsters and extortionists, as some 2404 people have fallen prey to the unabated violence in the city since the
Published 15 Jul, 2014 12:00am
LEAs could not track down terrorist network in Karachi, SHC told

LEAs could not track down terrorist network in Karachi, SHC told

The Sindh High Court (SHC) was informed on Monday that despite hectic efforts, law-enforcement agencies could not track down the network of large number of terrorists who shifted to Karachi after various operations in the Khyber Pakhtunkhwa province. Advo
Published 15 Jul, 2014 12:00am
'Tainted' Administrator South restored few days after removal

'Tainted' Administrator South restored few days after removal

It seems that corrupt officials are more eligible than competent and honest ones to be posted at key positions in Karachi Metropolitan Corporation (KMC) and its District Municipal Corporations (DMCs). A precedent was set again in the case of Administrator
Published 15 Jul, 2014 12:00am
Supreme Court seeks report from AG's Office

Supreme Court seeks report from AG's Office

The Supreme Court on Monday sought a report from Attorney General's Office regarding steps taken for the allocation of plots to members of the Supreme Court Bar Association. A two-member bench of Chief Justice Nasirul Mulk resumed the hearing of a plea fi
Published 15 Jul, 2014 12:00am
'Wandering Falcon' author dies

'Wandering Falcon' author dies

Jamil Ahmad, the author of an acclaimed collection of short stories about life in tribal badlands, has died after a long illness, his family said on Monday. Ahmad, a career civil servant, found fame as a writer late in life with "The Wandering Falcon", wh
Published 15 Jul, 2014 12:00am
Why has Moody's changed Pakistan's rating outlook to stable?

Why has Moody's changed Pakistan's rating outlook to stable?

Moody's Investors Service has revised the outlook on Pakistan's foreign currency government bond rating to stable from negative. The rating is affirmed at Caa1. Concurrently, Moody's has affirmed the government's issuer rating and senior unsecured rating
Published 15 Jul, 2014 12:00am
'Back to Love' Rahat presides over second lucky draw at McDonald's

'Back to Love' Rahat presides over second lucky draw at McDonald's

Rahat Fateh Ali Khan, a renowned Pakistani singer of international fame, presided over the 2nd lucky draw ceremony at McDonald's Y Block, Defence, Lahore, on 12th July, 2014. Rahat looked pretty excited after the release of his new album "Back to Love" at
Published 15 Jul, 2014 12:00am
KEPZ shows remarkable export increase in June

KEPZ shows remarkable export increase in June

Chairman 'EPZA Rabiya Javeri Agha has expressed satisfaction over consistent growth trends in EPZ exports recorded during last seven months. The Karachi Export Processing Zone (KEPZ) has achieved a significant export success by a raise of 43 percent in th
Published 15 Jul, 2014 12:00am
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